INNOVATION IN ACCOUNTING
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In 2016 the government consulted on a proposed abolition of Class 2 National Insurance contributions (NICs) for the self-employed. This flat rate contribution, currently £2.95 a week is payable by the self-employed in addition to Class 4 contributions based on the...read more
HMRC have updated their guidance on the rules for carrying forward the unused pension savings annual allowance, together with a calculator on their website. For most taxpayers, the maximum amount of pension savings that qualifies for tax relief each tax year is...read more
HMRC is uring UK taxpayers to come forward and declare any foreign income or profits on offshore assess before 30 September to avoid higher tax penalties. New legislation called ‘Requirement to Correct’ requires UK taxpayers to notify HMRC about any...read more
We’re living in a world where the business landscape is constantly evolving. It’s been nearly 30-years since the world’s first text message was sent, and now over 8 trillian texts are sent each year. It’s a technology-dependant society now, thanks largely to mobile...read more
This is a tax charge on any outstanding loans that exist as a result of a disguised remuneration tax avoidance scheme. It applies to any loans that were taken out under a disguised remuneration scheme since 6 April 1999. The most common schemes were Employee Funded...read more